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HomeMy WebLinkAbout3. DMX Vail Town Council June 21 2016 FINAL_for CSEVail Town Council & Vail Economic Advisory Council Update June 21, 2016 Presented by Ralf Garrison MTNWEST •Aspen •Avon, Colorado •Big Sky •Breckenridge •Beaver Creek •Copper •Gunnison/Crested Butte •Keystone •Mt Bachelor •Mammoth Lakes •Jackson Hole •North Lake Tahoe •Snowmass •Steamboat •Park City Area •Summit County, CO •Telluride •Vail •Winter Park SUN&BEACH •Hilton Head •Florida Keys •Golden Isles •Experience Kissimmee •Visit Florida ASSOCIATIONS&CORPORATIONS •Onsite Property Management Association •Colorado Hotel & Lodging Association •Vail Resorts - Lodging •Destination Hotels & Resorts–Mtn Collection Reports with data as of May 31, 2016 include: 25 properties representing 2,456 units 62% of total community census Vail Property Participation 4 Manor Vail Resort Montaneros Sitzmark Lodge Sonnenalp Resort of Vail The Sebastian The Wren Tivoli Lodge Vail Mountain Lodge Vail Racquet Club Vail Spa Condominiums Vail Marriott The Lodge at Vail The Ritz-Carlton Residences 25 Data Submitting Properties 5 Antlers at Vail Arrabelle at Vail Square Christiania Lodge & Christiania Condos Destination Resorts Vail Vail Cascade Condos Vail Cascade Resort & Spa Evergreen Lodge at Vail Four Seasons Resort Vail Lion Square Lodge Lodge at Lionshead Lodge Tower Economic Overview 9 •Economic Tide: Softer and uncertain. Election adds wildcard •Battle for the Beds: –More Demand than Supply, adds to price, drives shift to highest/best use = short term –Rent-By-Owner Channels come into mainstream –Regulatory pushback is growing, sometimes potentially over-reaching •Attractions: Shifting, Slowly but Surely –Legacy attractions (Ski/Golf, etc.): Flat at Best –Social/Group Based Exercise - Less competitive/timed events, more socially based –Increased influence of Post – Title 9, and more X Chromosome influenced •Consumer Shifts in 2016: More… •Leisure than Business (Air) Travel •Millennials than Boomers •Women than Men: Running events example 22 Summer 2016 Business On the Books as % of 2015 total as of 5/31/16 71.4% 63.4% 0%10%20%30%40%50%60%70%80%90%100% 2016 Revenue 2016 Nights Occupancy Summer 2016 23 Data as of May 31, 2016 ADR Summer 2016 24 Data as of May 31, 2016 RevPAR Summer 2016 25 Data as of May 31, 2016 Vail MDC 26 Vail Daily Occupancy Summer 2016 27 As of May 31, 2016 35.3% 22.0% 68.4% 12.8% 27.6% 44.3% -30.0% -20.0% -10.0% 0.0% 10.0% 20.0% 30.0% 40.0% 50.0% 60.0% 70.0% 2007 '08 vs '07 '09 vs '07 '10 vs '07 '11 vs '07 '12 vs '07 13 VS '07 14 VS '07 15 VS '07 Industry % Chg Occ. Rate vs 2007 Industry % Change ADR vs 2007 Industry % Change Revenue vs 2007 Vail % Chg Occ. Rate vs 2007 Vail % Change ADR vs 2007 Vail % Change Revenue vs 2007 Vail vs. Industry Summer Performance 2007 – 2015 Group vs FIT 31